Arcelormittal gets 2569
acres in Bellary to set up a six million TN steel plant at an investment of Rs.
30K CR

A day after it posted its first ever quarterly net
loss due to slowdown in China and a weak market in Europe, ArcelorMittal, the
world's largest steel producer has some reason to cheer. ArcelorMittal has
received allotment of 2,569 acres in Bellary, Karnataka, where it proposes to
set up a six-million tonne steel plant at an investment of Rs 30,000 crore.

"We have made progress on land acquisition in Karnataka. The state
government has transferred the 2,569 acres of private land in the company's
name and the process to transfer another 136 acres of government land is
underway. The process of getting various clearances including crucial
environment clearance is underway. We have also applied for mining leases which
are critical for the project. We are focusing on getting all relevant
clearances," an official spokesperson of ArcelorMittal India said.

However, in the absence of raw material linkages, particularly without assured
supplies of captive iron ore, it is uncertain whether ArcelorMittal will be
able to go ahead with construction of the plant anytime soon.

Alongwith the steel plant, ArcelorMittal also plans to set up a 750 MW power
plant as part of the project.

"It's still a long way to go before the project breaks ground. This is
just the first step. For large integrated steel projects like these, apart from
regulatory approvals, adopting an appropriate model of sustainable development
will also emerge a key issue," a senior research analyst at Emkay
Securities said

(Economic Times)

India to become second largest steel producer soon –
Minister

As per government
estimates, India will soon become the second largest steel producer in the
world

Indian steel minister Mr Beni Prasad Verma while chairing a meeting of a
parliamentary consultative committee to review the functioning of RINL said
“India will soon become the second largest manufacturer of steel in the world.
Steel capacity in the country has increased from 66 million tonne in 2009 to 90
million tonne in 2012.”

The Steel Minister said that the per capita steel consumption in the country
has risen from 38 kg to 59 kg.

China is the number one producer of steel, followed by Japan and the US at
second and third places, respectively. India slipped one rank to become the
fourth largest steel producer in 2010, with 68.3 million tonne of output.

(Economic Times)

COAL

Coal India may have to
pay more penalty as demands go up

Coal IndiaBSE 0.95 % may have to cough up a penalty
upwards of Rs 300 crore in 2015 as